The Hyderabad Pharma City (HPC), a mega pharma park developed by the Telangana Government, is likely to be launched soon.
It is expected to attract investment worth USD 9.7 billion and generate employment for 560,000 people. HPC is the world’s largest integrated cluster in Hyderabad for pharmaceutical industries, thrusting on R&D and manufacturing. The cluster has been recognized as the National Investment and Manufacturing Zone (NIMZ) by the Government of India, Center of Excellence.
''The project, coming up at about 25 km from Shamshabad airport, is in its final leg of planning and we hope to launch it soon,'' Shakti M Nagappan, Director, Life Sciences, Government of Telangana and CEO, HPC told BusinessLine.
According to the Government data, the Life Sciences sector in Telangana attracted ?6,400 crore investment from 215 companies in 2021-22 which was 200 per cent more than the investment attracted by the industry at ?2,766 crore from about 150 companies in FY21.
Hyderabad Pharma City is one of our flagship initiatives, having the potential to save and improve millions of lives worldwide by supporting the development and manufacturing of life-saving, quality and affordable medicines, he said.
The Genome Valley in Hyderabad has attracted a unique blend of companies across the value chain of the life sciences and has the largest multi-tenanted labspace in the country and one of the highest in the region – housing more than 3 million sqft at international standards.
Hyderabad's extraordinary talent pool, infrastructure, including multi-tenanted laboratory space, incubation facilities, utility infrastructure, testing facilities and other necessary ingredients required to discover, develop and manufacture are making the city as a ''highly attractive destination,'' for global life sciences companies, Nagappan said adding that the “progressive’‘ Government policies were also a positive factor.